Feds Approve Icahn's Yahoo Stock Buys

Activist investor plans additional $2.5B outlay to boost proxy bid

By Nick McMaster

Posted May 30, 2008 2:52 PM CDT

Copied

Feds Approve Icahn's Yahoo Stock Buys — Billionaire financier Carl Icahn, right, and his wife, Gail, arrive at the Motorola annual meeting in Chicago in this May 7, 2007 file photo. (AP Photo/Charles Rex Arbogast, File)

The Federal Trade Commission gave Carl Icahn approval to purchase additional chunks of Yahoo stock, part of the activist investor's plan to gain control of the company's board and perhaps force a sale, MarketWatch reports. Icahn already owns 59 million Yahoo shares and options and is reportedly seeking 93 million more (a $2.5 billion value).

Read These Next

Grandpa might want to look more closely next time.
An 11-year-old girl gave birth at home. The story gets worse.
The story of a failed secret SEAL mission in North Korea.
This is one hike they won't soon forget.

Report an error